USPA NEWS - Was held on February 08, 2019 at "CCI Ile De France (Chambre de Commerce et d'Industrie Ile de France) a FORUM AFRIQUE 2019 dedicated to Investors in AFRICA. The Theme was "Innovation, New Models : the Dynamism of African Economies"...

Was held on February 08, 2019 at "CCI Ile De France (Chambre de Commerce et d'Industrie Ile de France) a FORUM AFRIQUE 2019 dedicated to Investors in AFRICA. The Theme was "Innovation, New Models : the Dynamism of African Economies". After Two Decades (the 80s and the 90s) of Poor Growth Performance, Africa has started enjoying Strong and Continuous Economic Growth. Since the Turn of the Millennium, the Growth accelerated across the Entire Continent and Many Countries frequently experienced Annual Double Digit Growth Rates.

African Economies have been Resilient and gaining Momentum. Real Output Growth is estimated to have increased 3.6% in 2017 and to accelerate to 4.1% in 2018 and 2019. Overall, the Recovery of Growth has been Faster than envisaged, especially among Non-Resource–Intensive Economies. Challenges remain, especially for the Structural Transformations that would create more Jobs and reduce Poverty by deepening Investment in Agriculture and developing Agricultural Value Chains to spur Modern Manufacturing and Services. Economic Diversification is thus Key to solving the Continent’s Problems, especially in the Context of a Challenging Demographic Structure. A First Priority for African Governments is to encourage a Shift toward Labor-Absorbing Growth Paths. A Second is to Invest in Human Capital, particularly in the Entrepreneurial Skills of Youth, to facilitate the Transition to Higher-Productivity Modern Sectors.

Continued Prudent Macroeconomic Efforts are needed to create the Incentives and Business Environment for the Private Sector to play its Role. The Large and Dynamic Private Sector accounts for 70% of Production, more than 65% of Investment, and 90% of African Jobs (particularly when the Informal Sector is included), so it is unsurprising that the Livelihoods of so many Africans depend on it. The Private Sector has also been a Major Driver of the Continent’s Fast Economic Growth over the past 15 Years. The Link between Economic Growth in General and Private Sector Growth and Decent Jobs specifically is relevant to the United Nations Sustainable Development Goal 8 : to promote Inclusive and Sustainable Economic Growth, Employment and Decent Work for All.

The Rise of a “Smart”, Connected Africa is allowing Countries across the Continent to leapfrog Several Stages of Development in Key Areas such as Banking and Telecommunications and is reshaping Business and Society. Despite this, Growth in Several African Countries has slowed in Recent Years after more than a Decade of Solid Expansion. Rickety Infrastructure, Skills Shortages, Weak Governance and a Reliance on Commodities continue to plague the Continent, underscoring the Need for Economic Diversification for Sustained, Inclusive Growth in Areas such as Agriculture, Manufacturing, Healthcare, Education and Banking.

Africa undoubtedly offers Potential, but the Question remains : how will it be achieved ? Are African Governments doing enough to improve Infrastructure, train their Workforces, modernise Regulations and ensure Inclusive Growth, to create a Better Business Climate and boost Trade ? How can Companies innovate and capitalise on Advances in Technology to scale up their Businesses across the Continent ? Can Africa’s Tech-Driven Start-Ups become Engines of Future Growth ? And will a Connected Africa be better for Business and improve Lives for People Overall ?

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